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Consumer Bankruptcies Retreat Following Surge

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After soaring in March, the number of consumers who filed a new case with U.S. Bankruptcy Courts last month was down 8 percent. Year-over-year, though, was worse.

Total bankruptcy filings worked out to 69,736 during April.
Activity included both commercial filings as well as non-commercial bankruptcies.

Volume slowed from an upwardly revised 76,031 cases the previous month. But bankruptcy filings were escalated versus the upwardly revised 67,710 in the same month last year.

The report was delivered Friday by the American Bankruptcy Institute.

Out of every thousand in U.S. population, 2.49 filings were made during April.

The per-capita rate was 5.72 in Alabama,
higher than in any other state. Next was Tennessee’s 5.49, then Georgia’s 4.59, Mississippi’s 4.34, and Illinois’ 3.89.

Total U.S. non-commercial bankruptcy filings came to
66,510 last month. Bankruptcies declined from March’s downwardly revised 72,349 filings — the most since March 2017.

But consumer bankruptcy filings were escalated compared to April 2017, when the total was a downwardly revised 64,315.

Consumer filings amounted to 244,517 during the first-four months of this year.

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